Nordic, Avista raise £975m through first ConvaTec block, sell £1bn to Novo A/S

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By Aidan Gregory
28 Mar 2017

Nordic Capital and Avista Capital Partners on Tuesday night completed the first block trade in ConvaTec, the UK wound care and catheters company, since its blockbuster £1.6bn IPO in October. The deal was increased by 25%, to fetch £975m.

The IPO global co-ordinators, Bank of America Merrill Lynch, Goldman Sachs and UBS, were bookrunners.

The block was launched with a size of 300m shares, a 15.37% stake in the company, and priced at 260p, a 3.3% discount to the closing price.  

At 4.55pm, shortly after the ...

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